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Telstra Office Fetches $1.55 Million

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A commercial property leased as a Telstra Business Centre in Melbourne's south east has sold for $1.55 million.

GrayJohnston's Rory White sold the property at 2-4 Nepean Highway, Mentone, to an owner occupier straight after auction.

“The property was sold quickly after auction, with GrayJohnson negotiating an extra $125,000 from the pass in price," Mr White said.

"We continue to receive strong demand from owner occupiers and investors for quality commercial stock."The 641sqm building is located on a 442sqm site, with a 29 metre frontage to the Nepean Highway.

The building has redevelopment potential with Telstra's lease expiring in the short term. The current rental for the building is $92,190 per annum.

 

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Article originally posted at: https://https://theurbandeveloper.com/articles/telstra-office-fetches-1-55-million